HCMC & Chungbuk Forge Energy Collaboration for Sustainable Growth

Ho Chi Minh City (HCMC) and Chungbuk province (Korea) are exploring collaborative opportunities to advance sustainable development through the integration of digital and smart technologies, with a significant focus on the energy sector. Leveraging the unique strengths of each region promises mutually beneficial growth.

The HCMC – Chungbuk Business Forum, hosted by the Chungbuk Provincial Council on December 18th, brought together leaders and business representatives from both Vietnam and Korea. Discussions centered on strategic industries for collaboration, including the secondary battery industry, biotechnology, green energy, and information technology, alongside introductions of key companies and potential collaborative initiatives.

Mr. Hoan, Vo Van – Vice Chairman of the HCMC People’s Committee speaks at the Forum

Pham Dang An, Deputy General Director of Vu Phong Energy Group and Director of VP Carbon, presented an overview of Vietnam’s potential for renewable energy development, particularly within HCMC, highlighting opportunities in solar, wind, and waste-to-energy solutions. Notably, the city possesses the potential to develop 1,589 MWp of rooftop solar energy within the manufacturing sector, and Can Gio shows substantial promise for offshore wind development. This demonstrates a significant opportunity for expanding access to renewable energy.

Mr. An, Pham Dang – Deputy General Director of Vu Phong Energy Group, Director of VP Carbon, presented an overview of the potential for green energy development

Mr. An outlined specific collaboration possibilities for businesses in HCMC – Chungbuk, and more broadly, Vietnam – Korea, encompassing rooftop solar solutions, energy management systems, clean energy integrated with green transportation, and carbon capture and storage (CCS).

These collaborative ventures not only benefit participating businesses but also reinforce the strong friendship between HCMC and Chungbuk. This aligns with the broader strategic partnership between Vietnam and Korea, which aims to achieve a USD 150 billion trade turnover by 2030 through increased trade, industrial, and energy cooperation.

Vo Van Hoan, Vice Chairman of the HCMC People’s Committee, emphasized the significant progress in the cooperative relationship between HCMC and Korea, particularly in economic, trade, investment, and tourism. In 2023 alone, Korean investment in HCMC saw 127 new projects valued at USD 27 million, bringing the total to 2,160 projects representing USD 5.5 billion in investment, accounting for 9.5% of the city’s total foreign investment. Numerous Korean business delegations continue to explore collaboration opportunities within the city.

A Memorandum of Understanding (MoU) on friendly cooperation was signed between the HCMC People’s Committee and the Chungbuk Provincial Government, led by Phan Van Mai, Chairman of the HCMC People’s Committee, and Kim Young Hwan, Governor of Chungcheongbuk-do province, respectively. This MoU prioritizes economic cooperation, including support for trade and investment, the exchange of agricultural expertise and smart production technologies, collaboration between educational institutions, cultural exchanges, and partnerships in aviation, sports, tourism, and other sectors.

Mr. Mai, Phan Van, Chairman of the HCMC People’s Committee, and Mr. Kim Young Hwan, Governor of Chungcheongbuk-do province, signed a Memorandum of Understanding on friendly cooperation between the HCMC People’s Committee and the Chungbuk Provincial Government (Image: Vietnam News Agency )

The signing of the MoU and the organization of business connection activities through the HCMC – Chungbuk Business Forum are considered important milestones. Participating businesses anticipate fostering connections, leveraging mutual strengths, and contributing to sustainable development goals and shared prosperity.

Vũ Phong Energy Group

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Source: https://vuphong.com/many-opportunities-for-energy-collaboration-between-ho-chi-minh-city-and-chungbuk-korea/.